China trade data, oil prices, dollar in focus

The Nikkei 225 advanced 1.12 percent, rebounding after recording a near 2 percent fall within the middle of the week. Also providing support for the increase was the softer yen, which traded above the 113 level to the dollar. Automakers, tech names as well as also also trading houses recorded gains.

Of note, Japan’s third-quarter GDP was revised upward to 2.5 percent via the preliminary estimate of 1.4 percent, Reuters reported. On a quarterly basis, the economy grew 0.6 percent via one quarter ago, compared to the 0.4 percent forecast, the wire service added. Following the Discharge, the dollar fetched 113.28 yen at 9:41 a.m. HK/SIN, above Thursday’s close of 113.07.

The better-than-expected GDP figure “should further add to risk-taking,” OCBC Treasury Research said in a morning note, adding that will recovery in risk appetite in recent sessions came via progress made in U.S. tax reform proceedings.

Across the Korean Strait, the Kospi was mostly flat as gains in heavyweight tech names offset losses seen in automakers as well as also also several manufacturing plays. Samsung Electronics as well as also also SK Hynix were up 1.14 percent as well as also also 2.11 percent, respectively. Hyundai Motor fell 2.79 percent as well as also also steelmaker Posco slid 1.95 percent.

Down Under, the S&P/ASX 0 tacked on 0.22 percent as most energy-related plays rose on the back of oil prices climbing more than 1 percent within the last session. Oil Search gained 1.11 percent as well as also also Beach Energy added 3.61 percent, yet Santos traded flat. Banks recorded gains while major miners traded in negative territory.

Greater China markets went higher in early trade. Hong Kong’s Hang Seng Index rose 0.65 percent. On the mainland, the Shanghai Composite tacked on 0.17 percent as well as also also the Shenzhen Composite advanced 0.63 percent.

Leave a Reply

Your email address will not be published. Required fields are marked *


14 + 4 =